This bill amends several sections of the Nebraska Revised Statutes to prohibit the investment of certain retirement system assets in "restricted entities," specifically targeting entities associated with the Chinese government or military. The bill outlines the responsibilities of the Nebraska Investment Council and the state investment officer, mandating that they act as fiduciaries in managing retirement system assets and state funds. It requires the identification and divestment from any holdings related to restricted entities, which are defined in detail within the bill, and establishes reporting requirements for the state investment officer regarding these investments.

Additionally, the bill imposes a duty on the State Treasurer to create and maintain a publicly accessible list of restricted entities, updating it at least every six months. The act is set to become operative on July 1, 2026, and includes provisions for the repeal of the original sections of the statutes that are being amended. The bill emphasizes the importance of fiduciary responsibility and transparency in the management of state retirement funds, ensuring that investments align with the interests of Nebraska citizens and comply with federal restrictions.

Statutes affected:
Introduced: 72-1239.01, 72-1246, 72-1254, 84-602